UK jobless on the rise

The latest jobs figures show the number of unemployed people in Wales has fallen to 90,000 for the period April-June.

That followed a 15,000 rise in the three months to May, which was the first increase in two years.

The ONS figures showed the employment rate for the last three months was highest in the South-West (78.3%), while unemployment was the highest in the North-East (8.1%).

David Freeman, a statistician at the ONS, said: “This is now the second consecutive time we’ve reported fewer people in work on the quarter”.

“While it’s too early to conclude that the jobs market is levelling off, these figures certainly strengthen that possibility”.

This compares to last month’s growth of 3.2% inclusive bonuses and 2.8% excluding bonuses.

Rates across Oxfordshire have dropped steadily since 2012-13, when 6.5 per cent of the county, or 24,000 people, were unemployed.

Tombs said in an analyst note: “We doubt that these figures mark the start of a deteriorating trend in the labour market”. I was particularly pleased to see that wages are continuing to rise – meaning that hardworking people will see a real difference in their pay packets’.

UK unemployment increased and wage growth slowed in the second quarter, supporting the assessment that the interest rate need not be raised quickly this year. After years when preserving – and then creating – jobs was the main priority, businesses are now rewarding employees who cut down on hours or accepted pay freezes with extra work and higher wages.

“It’s a concern that the employment recovery isn’t doing more to boost the pace at which people move jobs”. It said recent increases in productivity meant stronger pay growth would not be inflationary in the near term.

The ONS said Wednesday’s data suggested the spectacular jobs growth seen in the UK over the past two years could be “levelling off”.

However, figures based on another jobless measure showed that, during July, the numbers claiming unemployment benefit fell by 400 to 43,500. Ministers must urgently deliver more high-quality apprenticeships to give young people the skills they need to get a job and build a future.

It was the ninth consecutive quarter of unemployment falling in the region, and has come amid a rise of employment. On top of that, Wales now has a record employment rate.

While the growth in earnings still remains well above the rate of inflation, the weaker-than-expected pay figure pushed the value of the pound down.